OECD unemployment rate stable at 4.9% in October

By Tuba Ongun

ANKARA (AA) – The unemployment rate in the Organization for Economic Cooperation and Development (OECD) area remained broadly stable at 4.9% in October, according to the international group on Wednesday.

The number of jobless in the OECD rose to 33.4 million in October, its highest level in 2023, according to the Paris-based organization.

The OECD unemployment rates for women and men remained unchanged at 5% and 4.7%, respectively.

The youth unemployment rate for people aged 15 to 24 ticked up to 10.9% in October, up from 10.7% in September.

The unemployment rate for younger workers rose in 14 OECD countries, with the largest increases occurring in Finland, Austria, Denmark, Israel, Mexico, and the US.

The youth unemployment rate increased in 17 OECD countries, with the largest hikes posted in Australia, Colombia, Denmark, Finland, Hungary, and Italy

In October, the jobless rate in the euro area was constant at 6.5%.